Global silver mine supply dropped for the second straight year as industrial demand rose for the first time since 2013, according to the World Silver Survey 2018 produced by the GFMS team at Thompson-Reuters andreleased by the Silver Institute this week.
SchiffGold’s It’s Your Dime features “straight talk” interviews with movers and shakers in the world of precious metals, investing and economics.
In this episode, host Mike Maharrey talks with SchiffGold senior precious metals specialist Joel Bauman. In an interview recorded earlier this month, they discuss the current state of the precious metals market and Joel talks about where he thinks it’s heading in the near future. Along the way, Joel and Mike get into several interesting subjects including gold and silver’s role as a portfolio hedge, ETFs vs. physical gold, counterparty risk and the cryptocurrency phenomenon.
Gold and silver are money. But most governments treat precious metals like a commodity. They don’t accept it as payment. Worse than that, they tax it. Think about the absurdity of this policy. You don’t tax money!
Fortunately, we’re beginning to see a shift. Many states are repealing taxes on gold and silver, and treating precious metals more like money. Wyoming is the latest state to reform its laws.
These policies not only ease the burden on investors, it opens the door to use gold and silver in everyday transactions, a foundational step for the people to undermine the Federal Reserve’s monopoly on money.